ECB paper looks at role of uncertainty in central bank comms
Researchers use machine learning to study market reactions to BoE inflation reports
A working paper published by the European Central Bank suggests a new approach for analysing the effect of central banks’ announcements on interest rates.
In The long-run information effect of central bank communication, Stephen Hansen, Michael McMahon, and Matthew Tong examine data on market reactions to the Bank of England’s inflation report. The authors use machine learning techniques which they say allow them to “directly test whether the information which drives the different reactions is
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Economics
Economists least likely to research impact of AI
Inflation dynamics retains position at top of the rankings
Peer-reviewed journals still top gauge for research impact
Smaller teams more likely to consider conference presentations as assessment tool
Inflation and GDP growth forecast errors decrease further
Forecast errors used widely for key model adjustments
One in five main models has endogenous financial sector
Benchmark highlights array of methods central banks use to model financial sector
Central banks published fewer working papers and articles in 2023
Middle income and low income central banks published less
US rate hikes ‘lock in’ homeowners – Fed study
Tighter monetary policy raises house prices and reduces churn, research finds
San Francisco Fed paper details declining immigration into US
Statistics show decline after White House’s June proclamation barring entry across southern border
Time series and semi-structural models widely applied
High income countries more likely to use AI than peers from other income levels